Mohan Limited had made certain investments in the convertible debt instruments of Rohan Limited. The conversion rights are substantive rights and…

Mohan Limited had made certain investments in the convertible debt instruments of Rohan Limited. The conversion rights are substantive rights and would provide Mohan Limited with control over Rohan Limited. Mohan Limited has evaluated that Rohan Limited would be treated as its subsidiary under Ind AS and hence, would require consolidation in its Ind AS consolidated financial statements. Rohan Limited was not considered as a subsidiary, associate or a joint venture under previous GAAP. Which of the following statement(s) is / are correct if Rohan Limited is to be consolidated on transition to Ind AS assuming that Mohan Limited has opted to avail the exemption from retrospective restatement of past business combinations? Statements: (i) No adjustment is needed as the investments in the convertible debt instruments of Rohan Limited were made before the transition date. (ii) The Assets and Liabilities of the subsidiary would be included in the Opening Consolidated Financial Statements of Mohan Limited at such values as would appear in the separate financial statements of the subsidiary if it were to adopt the Ind AS at the date of transition of Mohan Limited. (iii) The subsidiary's financial statements would be prepared as if it was a first-time adopter of Ind AS. (iv) The business combination should be restated retrospectively in accordance with Ind AS 103. Options: